[Congressional Record Volume 162, Number 89 (Tuesday, June 7, 2016)]
[Senate]
[Pages S3581-S3583]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 4506. Ms. WARREN (for herself, Mr. Whitehouse, Mr. Markey, Ms.
Baldwin, Mr. Murphy, Mr. Leahy, Mrs. Murray, Mr. Merkley, Mr. Casey,
Ms. Cantwell, Mr. Sanders, Ms. Stabenow, and Ms. Hirono) submitted an
amendment intended to be proposed by her to the bill S. 2943, to
authorize appropriations for fiscal year 2017 for military activities
of the Department of Defense, for military construction, and for
defense activities of the Department of Energy, to prescribe military
personnel strengths for such fiscal year, and for other purposes; which
was ordered to lie on the table; as follows:
At the end of title X, insert the following:
Subtitle J--SAVE Benefits Act
SEC. 1097. ONE-TIME SUPPLEMENTARY PAYMENT TO SOCIAL SECURITY
BENEFICIARIES AND VETERANS.
(a) One-time Supplementary Payment to Social Security
Beneficiaries and Veterans.--
(1) Eligibility.--
(A) In general.--Subject to paragraph (4)(C), the Secretary
of the Treasury shall disburse a payment equal to the amount
described in subsection (e) to each individual who, for any
month during the 3-month period ending with the month which
ends prior to the month that includes the date of the
enactment of this Act, is entitled to a benefit payment
described in clause (i), (ii), or (iii) of subparagraph (B),
or is eligible for a SSI cash benefit described in
subparagraph (C).
(B) Benefit payment described.--For purposes of
subparagraph (A):
(i) Title ii benefit.--A benefit payment described in this
clause is a monthly insurance benefit payable (without regard
to sections 202(j)(1) and 223(b) of the Social Security Act
(42 U.S.C. 402(j)(1), 423(b))) under--
(I) section 202(a) of such Act (42 U.S.C. 402(a));
(II) section 202(b) of such Act (42 U.S.C. 402(b));
(III) section 202(c) of such Act (42 U.S.C. 402(c));
(IV) section 202(d)(1)(B)(ii) of such Act (42 U.S.C.
402(d)(1)(B)(ii));
(V) section 202(e) of such Act (42 U.S.C. 402(e));
(VI) section 202(f) of such Act (42 U.S.C. 402(f));
(VII) section 202(g) of such Act (42 U.S.C. 402(g));
(VIII) section 202(h) of such Act (42 U.S.C. 402(h));
(IX) section 223(a) of such Act (42 U.S.C. 423(a));
(X) section 227 of such Act (42 U.S.C. 427); or
(XI) section 228 of such Act (42 U.S.C. 428).
(ii) Railroad retirement benefit.--A benefit payment
described in this clause is a monthly annuity or pension
payment payable (without regard to section 5(a)(ii) of the
Railroad Retirement Act of 1974 (45 U.S.C. 231d(a)(ii)))
under--
(I) section 2(a)(1) of such Act (45 U.S.C. 231a(a)(1));
(II) section 2(c) of such Act (45 U.S.C. 231a(c));
(III) section 2(d)(1)(i) of such Act (45 U.S.C.
231a(d)(1)(i));
(IV) section 2(d)(1)(ii) of such Act (45 U.S.C.
231a(d)(1)(ii));
(V) section 2(d)(1)(iii)(C) of such Act to an adult
disabled child (45 U.S.C. 231a(d)(1)(iii)(C));
(VI) section 2(d)(1)(iv) of such Act (45 U.S.C.
231a(d)(1)(iv));
(VII) section 2(d)(1)(v) of such Act (45 U.S.C.
231a(d)(1)(v)); or
(VIII) section 7(b)(2) of such Act (45 U.S.C. 231f(b)(2))
with respect to any of the benefit payments described in
clause (i) of this subparagraph.
(iii) Veterans benefit.--A benefit payment described in
this clause is a compensation or pension payment payable
under--
(I) section 1110, 1117, 1121, 1131, 1141, or 1151 of title
38, United States Code;
[[Page S3582]]
(II) section 1310, 1312, 1313, 1315, 1316, or 1318 of title
38, United States Code;
(III) section 1513, 1521, 1533, 1536, 1537, 1541, 1542, or
1562 of title 38, United States Code; or
(IV) section 1805, 1815, or 1821 of title 38, United States
Code,
to a veteran, surviving spouse, child, or parent as described
in paragraph (2), (3), (4)(A)(ii), or (5) of section 101,
title 38, United States Code, who received that benefit
during any month within the 3-month period ending with the
month which ends prior to the month that includes the date of
the enactment of this Act.
(C) SSI cash benefit described.--A SSI cash benefit
described in this subparagraph is a cash benefit payable
under section 1611 (other than under subsection (e)(1)(B) of
such section) or 1619(a) of the Social Security Act (42
U.S.C. 1382, 1382h).
(2) No double payments.--An individual shall be paid only 1
payment under this section, regardless of whether the
individual is entitled to, or eligible for, more than 1
benefit payment described in paragraph (1).
(3) Limitation.--A payment under this section shall not be
made--
(A) in the case of an individual entitled to a benefit
specified in paragraph (1)(B)(i) or paragraph
(1)(B)(ii)(VIII) if, for the most recent month of such
individual's entitlement in the 3-month period described in
paragraph (1), such individual's benefit under such paragraph
was not payable by reason of subsection (x) or (y) of section
202 the Social Security Act (42 U.S.C. 402) or section 1129A
of such Act (42 U.S.C. 1320a-8a);
(B) in the case of an individual entitled to a benefit
specified in paragraph (1)(B)(iii) if, for the most recent
month of such individual's entitlement in the 3-month period
described in paragraph (1), such individual's benefit under
such paragraph was not payable, or was reduced, by reason of
section 1505, 5313, or 5313B of title 38, United States Code;
(C) in the case of an individual entitled to a benefit
specified in paragraph (1)(C) if, for such most recent month,
such individual's benefit under such paragraph was not
payable by reason of subsection (e)(1)(A) or (e)(4) of
section 1611 (42 U.S.C. 1382) or section 1129A of such Act
(42 U.S.C. 1320a-8);
(D) in the case of an individual who has been penalized
under section 1129(a) of the Social Security Act (42 U.S.C.
1320-8(a)); or
(E) in the case of any individual whose date of death
occurs before the date on which the individual is certified
under subsection (b) to receive a payment under this section.
(4) Timing and manner of payments.--
(A) In general.--The Secretary of the Treasury shall
commence disbursing payments under this section at the
earliest practicable date but in no event later than 120 days
after the date of enactment of this Act. The Secretary of the
Treasury may disburse any payment electronically to an
individual in such manner as if such payment was a benefit
payment to such individual under the applicable program
described in subparagraph (B) or (C) of paragraph (1).
(B) Notice.--
(i) In general.--The Secretary of the Treasury shall
provide written notice, sent by mail to each individual
receiving a payment under this section, explaining that the
payment represents a one-time benefit increase to the benefit
payment described in paragraph (1) to which the individual is
entitled.
(ii) Public notice.--The Secretary of the Treasury, in
consultation with the Commissioner of Social Security and the
Secretary of Veterans Affairs, shall publish on a public
website information about the payments authorized under this
subsection, including--
(I) information on eligibility for such payments;
(II) information on the timeframe in which such payments
will be distributed; and
(III) other relevant information.
(C) Deadline.--No payments shall be disbursed under this
section after September 30, 2017, regardless of any
determinations of entitlement to, or eligibility for, such
payments made after such date.
(b) Identification of Recipients.--The Commissioner of
Social Security, the Railroad Retirement Board, and the
Secretary of Veterans Affairs shall certify the individuals
entitled to receive payments under this section and provide
the Secretary of the Treasury with the information needed to
disburse such payments. A certification of an individual
shall be unaffected by any subsequent determination or
redetermination of the individual's entitlement to, or
eligibility for, a benefit specified in subparagraph (B) or
(C) of subsection (a)(1).
(c) Treatment of Payments.--
(1) Payment to be disregarded for purposes of all federal
and federally assisted programs.--A payment under subsection
(a) shall not be regarded as income and shall not be regarded
as a resource for the month of receipt and the following 9
months, for purposes of determining the eligibility of the
recipient (or the recipient's spouse or family) for benefits
or assistance, or the amount or extent of benefits or
assistance, under any Federal program or under any State or
local program financed in whole or in part with Federal
funds.
(2) Payment not considered income for purposes of
taxation.--A payment under subsection (a) shall not be
considered as gross income for purposes of the Internal
Revenue Code of 1986.
(3) Payments protected from assignment.--The provisions of
section 207 of the Social Security Act (42 U.S.C. 407) and
section 14(a) of the Railroad Retirement Act of 1974 (45
U.S.C. 231m(a)) shall apply to any payment made under
subsection (a) as if such payment was a benefit payment to
such individual under the applicable program described in
subsection (a)(1)(B).
(4) Treatment under social security act.--
(A) No effect on family maximum.--For purposes of section
203(a) of the Social Security Act (42 U.S.C. 403(a)), a
payment under subsection (a) shall be disregarded in
determining reductions in benefits under such section.
(B) Payment not a general benefit increase.--For purposes
of section 215(i) of the Social Security Act (42 U.S.C.
415(i)), a payment under subsection (a) shall not be regarded
as a general benefit increase.
(5) Payments subject to reclamation.--Any payment made
under this section shall, in the case of a payment by direct
deposit which is made after the date of the enactment of this
Act, be subject to the reclamation provisions under subpart B
of part 210 of title 31, Code of Federal Regulations
(relating to reclamation of benefit payments).
(d) Payment to Representative Payees and Fiduciaries.--
(1) In general.--In any case in which an individual who is
entitled to a payment under subsection (a) and whose benefit
payment or cash benefit described in paragraph (1) of that
subsection is paid to a representative payee or fiduciary,
the payment under subsection (a) shall be made to the
individual's representative payee or fiduciary and the entire
payment shall be used only for the benefit of the individual
who is entitled to the payment.
(2) Applicability.--
(A) Payment on the basis of a title ii benefit or ssi
benefit.--Section 1129(a)(3) of the Social Security Act (42
U.S.C. 1320a-8(a)(3)) shall apply to any payment made on the
basis of an entitlement to a benefit specified in paragraph
(1)(B)(i) or (1)(C) of subsection (a) in the same manner as
such section applies to a payment under title II or XVI of
such Act.
(B) Payment on the basis of a railroad retirement
benefit.--Section 13 of the Railroad Retirement Act (45
U.S.C. 231l) shall apply to any payment made on the basis of
an entitlement to a benefit specified in paragraph (1)(B)(ii)
of subsection (a) in the same manner as such section applies
to a payment under such Act.
(C) Payment on the basis of a veterans benefit.--Sections
5502, 6106, and 6108 of title 38, United States Code, shall
apply to any payment made on the basis of an entitlement to a
benefit specified in paragraph (1)(B)(iii) of subsection (a)
in the same manner as those sections apply to a payment under
that title.
(e) Payment Amount.--The amount described in this
subsection is the amount that is equal to 3.9 percent of the
average amount of annual benefits received by an individual
entitled to benefits under title II of the Social Security
Act (42 U.S.C. 401 et seq.) in calendar year 2015, as
determined by the Commissioner of Social Security, rounded to
the next lowest multiple of $1.
(f) Appropriation.--Out of any sums in the Treasury of the
United States not otherwise appropriated, the following sums
are appropriated for the period of fiscal years 2016 through
2017, to remain available until expended, to carry out this
section:
(1) For the Secretary of the Treasury, such sums as may be
necessary for administrative costs incurred in carrying out
this section.
(2) For the Commissioner of Social Security--
(A) such sums as may be necessary for payments to
individuals certified by the Commissioner of Social Security
as entitled to receive a payment under this section; and
(B) such sums as may be necessary to the Social Security
Administration's Limitation on Administrative Expenses for
costs incurred in carrying out this section.
(3) For the Railroad Retirement Board--
(A) such sums as may be necessary for payments to
individuals certified by the Railroad Retirement Board as
entitled to receive a payment under this section; and
(B) such sums as may be necessary to the Railroad
Retirement Board's Limitation on Administration for
administrative costs incurred in carrying out this section.
(4)(A) For the Secretary of Veterans Affairs--
(i) such sums as may be necessary for the Compensation and
Pensions account, for payments to individuals certified by
the Secretary of Veterans Affairs as entitled to receive a
payment under this section; and
(ii) such sums as may be necessary for the Information
Systems Technology account and the General Operating Expenses
account for administrative costs incurred in carrying out
this section.
(B) The Department of Veterans Affairs Compensation and
Pensions account shall hereinafter be available for payments
authorized under subsection (a)(1)(A) to individuals entitled
to a benefit payment described in subsection (a)(1)(B)(iii).
SEC. 1098. SPECIAL CREDIT FOR CERTAIN GOVERNMENT RETIREES.
(a) In General.--In the case of an eligible individual,
there shall be allowed as a credit against the tax imposed by
subtitle A of the Internal Revenue Code of 1986 for the first
taxable year beginning in 2016 an amount equal to $581
($1,162 in the case of a joint return where both spouses are
eligible individuals).
[[Page S3583]]
(b) Eligible Individual.--
(1) In general.--For purposes of this section, the term
``eligible individual'' means any individual--
(A) who receives during the first taxable year beginning in
2016 any amount as a pension or annuity for service performed
in the employ of the United States or any State, or any
instrumentality thereof, which is not considered employment
for purposes of sections 3101(a) and 3111(a) of the Internal
Revenue Code of 1986, and
(B) who does not receive a payment under section 1097
during such taxable year.
(2) Identification number requirement.--
(A) In general.--The term ``eligible individual'' shall not
include any individual who does not include on the return of
tax for the taxable year--
(i) such individual's social security account number, and
(ii) in the case of a joint return, the social security
account number of one of the taxpayers on such return.
(B) Exclusion of tin.--For purposes of subparagraph (A),
the social security account number shall not include a TIN
(as defined in section 7701(a)(41) of the Internal Revenue
Code of 1986) issued by the Internal Revenue Service. Any
omission of a correct social security account number required
under this paragraph shall be treated as a mathematical or
clerical error for purposes of applying section 6213(g)(2) of
such Code to such omission.
(c) Treatment of Credit.--
(1) Refundable credit.--
(A) In general.--The credit allowed by subsection (a) shall
be treated as allowed by subpart C of part IV of subchapter A
of chapter 1 of the Internal Revenue Code of 1986.
(B) Appropriations.--For purposes of section 1324(b)(2) of
title 31, United States Code, the credit allowed by
subsection (a) shall be treated in the same manner as a
refund from the credit allowed under section 36A of the
Internal Revenue Code of 1986.
(2) Deficiency rules.--For purposes of applying section
6211(b)(4)(A) of the Internal Revenue Code of 1986, the
credit allowable by subsection (a) shall be treated in the
same manner as the credits listed in subparagraph (A) of
section 6211(b)(4).
(d) Refunds Disregarded in the Administration of Federal
Programs and Federally Assisted Programs.--Any credit or
refund allowed or made to any individual by reason of this
section shall not be taken into account as income and shall
not be taken into account as resources for the month of
receipt and the following 2 months, for purposes of
determining the eligibility of such individual or any other
individual for benefits or assistance, or the amount or
extent of benefits or assistance, under any Federal program
or under any State or local program financed in whole or in
part with Federal funds.
SEC. 1099. MODIFICATION OF LIMITATION ON EXCESSIVE
REMUNERATION.
(a) Repeal of Performance-Based Compensation and Commission
Exceptions for Limitation on Excessive Remuneration.--
(1) In general.--Paragraph (4) of section 162(m) of the
Internal Revenue Code of 1986 is amended by striking
subparagraphs (B) and (C) and by redesignating subparagraphs
(D) through (G) as subparagraphs (B) through (E),
respectively.
(2) Conforming amendments.--
(A) Section 162(m)(5) of such Code is amended--
(i) by striking ``subparagraphs (B), (C), and (D) thereof''
in subparagraph (E) and inserting ``subparagraph (B)
thereof'', and
(ii) by striking ``subparagraphs (F) and (G)'' in
subparagraph (G) and inserting ``subparagraphs (D) and (E)''.
(B) Section 162(m)(6) of such Code is amended--
(i) by striking ``subparagraphs (B), (C), and (D) thereof''
in subparagraph (D) and inserting ``subparagraph (B)
thereof'', and
(ii) by striking ``subparagraphs (F) and (G)'' in
subparagraph (G) and inserting ``subparagraphs (D) and (E)''.
(b) Expansion of Applicable Employer.--Paragraph (2) of
section 162(m) of the Internal Revenue Code of 1986 is
amended to read as follows:
``(2) Publicly held corporation.--For purposes of this
subsection, the term `publicly held corporation' means any
corporation which is an issuer (as defined in section 3 of
the Securities Exchange Act of 1934 (15 U.S.C. 78c))--
``(A) the securities of which are registered under section
12 of such Act (15 U.S.C. 78l), or
``(B) that is required to file reports under section 15(d)
of such Act (15 U.S.C. 78o(d)).''.
(c) Application to All Current and Former Officers,
Directors, and Employees.--
(1) In general.--Section 162(m) of the Internal Revenue
Code of 1986, as amended by subsection (a), is amended--
(A) by striking ``covered employee'' each place it appears
in paragraphs (1) and (4) and inserting ``covered
individual'', and
(B) by striking ``such employee'' each place it appears in
subparagraphs (A) and (E) of paragraph (4) and inserting
``such individual''.
(2) Covered individual.--Paragraph (3) of section 162(m) of
such Code is amended to read as follows:
``(3) Covered individual.--For purposes of this subsection,
the term `covered individual' means any individual who is an
officer, director, or employee of the taxpayer or a former
officer, director, or employee of the taxpayer.''.
(3) Conforming amendments.--
(A) Section 48D(b)(3)(A) of such Code is amended by
inserting ``(as in effect for taxable years beginning before
January 1, 2017)'' after ``section 162(m)(3)''.
(B) Section 409A(b)(3)(D)(ii) of such Code is amended by
inserting ``(as in effect for taxable years beginning before
January 1, 2017)'' after ``section 162(m)(3)''.
(d) Special Rule for Remuneration Paid to Beneficiaries,
etc.--Paragraph (4) of section 162(m), as amended by
subsection (a), is amended by adding at the end the following
new subparagraph:
``(F) Special rule for remuneration paid to beneficiaries,
etc.--Remuneration shall not fail to be applicable employee
remuneration merely because it is includible in the income
of, or paid to, a person other than the covered individual,
including after the death of the covered individual.''.
(e) Regulatory Authority.--
(1) In general.--Section 162(m) of the Internal Revenue
Code of 1986 is amended by adding at the end the following
new paragraph:
``(7) Regulations.--The Secretary may prescribe such
guidance, rules, or regulations, including with respect to
reporting, as are necessary to carry out the purposes of this
subsection.''.
(2) Conforming amendment.--Paragraph (6) of section 162(m)
of such Code is amended by striking subparagraph (H).
(f) Transfer to Social Security Trust Funds.--For purposes
of the amount of any increase in revenue to the Treasury by
reason of the amendments made by this section, any such
amount that is in excess of the total amount appropriated
under section 1097(f) of this Act shall be, at such times and
in such manner as determined appropriate by the Secretary of
the Treasury (or the Secretary's delegate), deposited in the
Trust Funds (as defined in subsection (c) of section 201 of
the Social Security Act (42 U.S.C. 401)), with--
(1) 50 percent of such amount to be deposited in the
Federal Old-Age and Survivors Insurance Trust Fund (as
defined in subsection (a) of such section); and
(2) 50 percent of such amount to be deposited in the
Federal Disability Insurance Trust Fund (as defined in
subsection (b) of such section).
(g) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after December 31,
2016.
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